ScanTech AI Announces Receipt of Nasdaq Deficiency Letter
Rhea-AI Summary
ScanTech AI (NASDAQ:STAI), a security screening technology company, has received a deficiency letter from Nasdaq due to failing to file its Q2 2025 Form 10-Q on time. The company is not currently in compliance with Nasdaq Listing Rule 5250(c)(1).
While this notice doesn't immediately affect STAI's listing status, the company has 60 calendar days to submit a compliance plan. If Nasdaq accepts the plan, ScanTech could receive up to 180 days (until February 16, 2025) to regain compliance. If rejected, the company can appeal to a Nasdaq Hearings Panel.
Positive
- No immediate impact on Nasdaq listing status
- Company has 60 days to submit compliance plan
- Potential 180-day extension available if plan is accepted
- Appeal option available if plan is rejected
Negative
- Failed to file Q2 2025 Form 10-Q on time
- Non-compliance with Nasdaq listing requirements
- Risk of potential delisting if compliance is not regained
- Indicates possible internal controls or reporting issues
News Market Reaction – STAI
On the day this news was published, STAI declined 10.12%, reflecting a significant negative market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $3M from the company's valuation, bringing the market cap to $25M at that time.
Data tracked by StockTitan Argus on the day of publication.
Atlanta, GA, Aug. 29, 2025 (GLOBE NEWSWIRE) -- ScanTech AI Systems Inc. (the "Company" or "ScanTech AI") (Nasdaq: STAI), a leading innovator in advanced security screening technologies, today announced that the Company received a letter from Nasdaq Listing Qualifications of The Nasdaq Stock Market LLC (“Nasdaq”), related to non-compliance with a certain listing requirement.
On August 26, 2025, the Company received a letter from Nasdaq stating that the Company is not in compliance with the requirements of Nasdaq Listing Rule 5250(c)(1) as a result of not having timely filed with the U.S. Securities and Exchange Commission its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025 (the “Quarterly Report”). The notice has no immediate effect on the listing of the Company’s common stock on The Nasdaq Global Market.
The notice stated that the Company has 60 calendar days to submit a plan to regain compliance. The Company intends to file the Quarterly Report as soon as practicable and, if necessary, submit a plan to Nasdaq to regain compliance. If the Company has to submit a plan and Nasdaq accepts the plan, Nasdaq can grant an exception of up to 180 calendar days from the Quarterly Report’s due date, or until February 16, 2025, to regain compliance with Nasdaq Listing Rule 5250(c)(1). If Nasdaq does not accept the Company’s plan, the Company would have the opportunity to appeal that decision to a Nasdaq Hearings Panel.
About ScanTech AI
ScanTech AI Systems Inc. (Nasdaq: STAI) has developed one of the world’s most advanced non-intrusive ‘fixed-gantry’ CT screening technologies. Utilizing proprietary artificial intelligence and machine learning capabilities, ScanTech AI’s state-of-the-art scanners accurately and quickly detect hazardous materials and contraband. Engineered to automatically locate, discriminate, and identify threat materials and items of interest, ScanTech AI’s solutions are designed for use in airports, seaports, borders, embassies, corporate headquarters, government and commercial buildings, factories, processing plants, and other facilities where security is a priority.
For more information, visit www.scantechais.com and investor.scantechais.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended (“Exchange Act”), including statements regarding ScanTech AI’s management team’s expectations, hopes, beliefs, intentions, plans, prospects or strategies regarding the future, including Nasdaq compliance or noncompliance, possible business combinations, revenue growth and financial performance, product expansion and services. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Additionally, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on the current expectations and beliefs made by the management of ScanTech AI, in light of their respective experience and their perception of historical trends, current conditions, and expected future developments and their potential effect on ScanTech AI, as well as other factors they believe are appropriate under the circumstances. There can be no assurance that future developments affecting ScanTech AI will be those that it has anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including product and service acceptance, regulatory oversights, research and development success, and that ScanTech AI will have sufficient capital to operate as anticipated. Should one or more of these risks of uncertainties materialize, or should any of the assumptions of ScanTech AI prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Additional factors that could cause actual results to differ are discussed under the heading “Risk Factors” and in other sections of the filings of ScanTech AI (and its predecessor, Mars) with the U.S. Securities and Exchange Commission (the “SEC”), and in the current and periodic reports filed or furnished by ScanTech AI (and its predecessor, Mars) from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on the information available to ScanTech AI as of the date hereof, and ScanTech AI assumes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as may otherwise be required under applicable securities laws.
Contact:
ScanTech AI Systems Inc.
James White, CFO
jwhite@scantechibs.com
FAQ
Why did ScanTech AI (STAI) receive a Nasdaq deficiency letter?
Will ScanTech AI (STAI) be immediately delisted from Nasdaq?
What options does ScanTech AI (STAI) have to maintain its Nasdaq listing?
What happens if Nasdaq rejects ScanTech AI's (STAI) compliance plan?
When was ScanTech AI's (STAI) Q2 2025 Form 10-Q originally due?
